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XM Group

XM Group

USD/JPY advances in the BoJ aftermath

USDJPY storms to fresh 2024 high after BoJ’s rate hike ; The pair is within breathing distance from 33-year peak ; Momentum indicators point to overbought conditions

XM Group | 254 dias atrás

USDJPY has been in a steady uptrend after finding its feet a tad above the 200-day simple moving average (SMA) in early March. Meanwhile, the pair posted a fresh 2024 high following a dovish hike by the BoJ on Tuesday, while it has been extending its gains ahead of the FOMC meeting later today.

Should bullish pressures persist, the price might revisit the 2023 high of 151.90 ahead of the 33-year peak of 151.94 registered in 2022. Further advances could then cease at 154.64, which is the 123.6% Fibonacci extension of the 151.90-140.24 downleg. Conquering this barricade, the bulls could then attack the 138.2% Fibo of 156.35.

On the flipside, if the pair reverses lower, the 2024 resistance region of 150.87 could now serve as initial support. Even lower, the price could encounter strong support at the 78.6% Fibo of 149.40. A violation of that hurdle may set the stage for the 61.8% Fibo of 147.44.

Overall, USDJPY’s advance accelerated following the dovish hike by the BoJ, while the FOMC meeting later today could induce more upside pressures. Therefore, traders should be aware that there might be a battle around the 33-year high of 151.94 in the upcoming sessions.

Regulamento: CySEC (Cyprus), ASIC (Australia), FSC (Belize), DFSA (UAE), FSCA (South Africa)

Marcadores : Análise USDJPY

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Japanese Yen Strong on Heighten Likelihood of BoJ Rate Hike

Japanese Yen Strong on Heighten Likelihood of BoJ Rate Hike

The Japanese yen strengthened further following an upbeat Tokyo CPI reading above 2%, reinforcing expectations of a potential BoJ rate hike. USD/JPY fell below the 150 level as market sentiment shifted. Meanwhile, the dollar remained subdued after Wednesday’s PCE report, with the Dollar Index retreating from the 106 mark, reflecting expectations of steady Fed policy.

PU Prime | 8h 53min atrás

Japanese Yen Climbs to Five-Week High Due to USD Weakness

Japanese Yen Climbs to Five-Week High Due to USD Weakness

The USD/JPY pair has dropped to 151.56, marking a five-week high for the yen. Market speculations fuel the currency's strength that the Bank of Japan (BoJ) might consider an interest rate hike as soon as December.

RoboForex | 1 dia atrás

Daily Global Market Update

Daily Global Market Update

The Euro is gaining strength, while the Yen is weakening. Gold is correcting upwards, and Alibaba stock is dipping. The Canadian dollar is recovering, but Wall Street is down. Key economic events include Canadian GDP, US inflation, Eurozone consumer confidence, and UK retail sales.

Moneta Markets | 1 dia atrás

Gold Decline on Easing Geopolitical Tension

Gold Decline on Easing Geopolitical Tension

The U.S. Personal Consumption Expenditures (PCE) report, released yesterday, met market expectations but failed to deliver any surprises, resulting in continued weakness in the U.S. dollar. Simultaneously, long-term Treasury yields fell to their lowest levels in November.

PU Prime | 1 dia atrás

How Global Economic Shifts Shape November's Trading Opportunities

How Global Economic Shifts Shape November's Trading Opportunities

The U.S. economy continues to chart a path toward a "soft landing," a scenario where inflation cools without triggering a severe recession. Gradual easing in the labour market underscores this trend, with recent jobless claims figures showing minor increases yet remaining well below concerning thresholds. Businesses are largely retaining staff, indicating stable employment conditions.

ACY Securities | 1 dia atrás

All Eye on Today’s PCE

All Eye on Today’s PCE

Ahead of today’s U.S. PCE reading, most asset classes remained steady as markets await direction. A higher-than-expected reading could bolster the dollar.

PU Prime | 2 dias atrás

Trump’s Tariff Policies Push Dollar Higher

Trump’s Tariff Policies Push Dollar Higher

The dollar surged to a recent high, recovering from yesterday's retreat, driven by President-elect Donald Trump's threats of 25% tariffs on Canada, China, and Mexico.

PU Prime | 3 dias atrás

NZDUSD, USDJPY, EURUSD

NZDUSD, USDJPY, EURUSD

RBNZ to cut rates again with NZDUSD remaining in negative territory; US core PCE may give some clues for the next Fed meeting; USDJPY near 155.00; Eurozone flash CPI on the agenda; EURUSD tumbles 5% in three weeks

XM Group | 4 dias atrás

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